Crypto Markets Controlled By Macro Guru Raoul Pal: Bitcoin (BTC) and Crypto Markets Controlled by One Big Driver

Macro Guru Raoul Pal: Bitcoin (BTC) and Crypto Markets Controlled by One Big Driver

– Real Vision CEO and macro expert Raoul Pal says Bitcoin (BTC) and the crypto markets are largely influenced by one macroeconomic factor.

– Pal tells his 965,100 Twitter followers he believes Bitcoin and the rest of the crypto markets are closely tracking the global money supply or M2.

– M2 is a measure of the current money supply that takes into account cash, checking/savings deposits, money market securities and other easily convertible assets.

– Pal, a former Goldman Sachs executive, also notes that M2 growth runs roughly inverse to the ISM Manufacturing Index. The index is viewed as an indicator of the health of the US economy.

– Says Pal, “As ISM falls, M2 should begin to grow…. ISM of 38, as per the model, puts M2 growth back at 13%.”

– Pal also predicts there will be a recession in the next 12-18 months.

– Macro strategist Lyn Alden has also highlighted the correlation between Bitcoin and M2 growth.

 

 

Crypto Markets Controlled By Macro Guru Raoul Pal: Bitcoin (BTC) and Crypto Markets Controlled by One Big Driver
Macro Guru Raoul Pal: Bitcoin (BTC) and Crypto Markets Controlled by One Big Driver 3

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